As a result of heavy rainfall during the month of August, large quantities of harvested corn had to be dried and cleaned before being processed. This additional work during the harvesting process will inevitably have an effect on the overall quantity, although it is not yet clear to which degree. BAKO president Günther Mertes noted that the harvesting process was still ongoing last week, but current estimates envision a 10% decrease compared to 2020.
When it comes to prices, an unexpected development took place. Although it looked as though this year's harvest would turn out very successful back in spring, prices have not decreased. On the contrary, with natural disasters around the globe, such as widespread fires in the United States, prices have increased as less produce entered the market.
The July floods here in Luxembourg also caused significant damages in the agricultural sector, amounting to an estimated €1.6 million, Minister Schneider explained during his visit. Close to 820 hectares of cultivated land were affected by water damages, the politician further conveyed.
